American National Bank Raises Stake in Coca-Cola Company (The) (KO)

American National Bank lifted its stake in shares of Coca-Cola Company (The) (NYSE:KO) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,924 shares of the company’s stock after acquiring an additional 1,549 shares during the period. American National Bank’s holdings in Coca-Cola Company (The) were worth $714,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Shell Asset Management Co. increased its position in shares of Coca-Cola Company (The) by 0.5% during the first quarter. Shell Asset Management Co. now owns 876,901 shares of the company’s stock worth $37,216,000 after acquiring an additional 4,101 shares in the last quarter. Guinness Asset Management Ltd increased its position in shares of Coca-Cola Company (The) by 13.4% during the first quarter. Guinness Asset Management Ltd now owns 232,940 shares of the company’s stock worth $9,886,000 after acquiring an additional 27,560 shares in the last quarter. Montecito Bank & Trust increased its position in shares of Coca-Cola Company (The) by 90.2% during the first quarter. Montecito Bank & Trust now owns 127,096 shares of the company’s stock worth $5,394,000 after acquiring an additional 60,258 shares in the last quarter. Marathon Asset Management LLP increased its position in shares of Coca-Cola Company (The) by 7.3% during the first quarter. Marathon Asset Management LLP now owns 2,699,084 shares of the company’s stock worth $115,439,000 after acquiring an additional 184,589 shares in the last quarter. Finally, Keystone Financial Planning Inc. increased its position in shares of Coca-Cola Company (The) by 2.1% during the first quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock worth $5,111,000 after acquiring an additional 2,465 shares in the last quarter. 64.68% of the stock is owned by institutional investors.

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Coca-Cola Company (KO) traded up 0.15% during mid-day trading on Friday, hitting $46.18. 16,141,413 shares of the stock were exchanged. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.98. The company has a market capitalization of $196.97 billion, a PE ratio of 48.76 and a beta of 0.71. The stock’s 50-day moving average is $45.84 and its 200 day moving average is $44.34.

Coca-Cola Company (The) (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $9.62 billion. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. On average, analysts anticipate that Coca-Cola Company will post $1.90 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio (DPR) is currently 154.17%.

In related news, insider J Alexander Douglas, Jr. sold 180,738 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.99, for a total value of $8,312,140.62. Following the transaction, the insider now directly owns 315,606 shares of the company’s stock, valued at approximately $14,514,719.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the completion of the transaction, the senior vice president now directly owns 98,718 shares in the company, valued at $4,541,028. The disclosure for this sale can be found here. Insiders sold a total of 366,835 shares of company stock worth $16,874,246 over the last three months. 1.51% of the stock is owned by insiders.

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Several research analysts recently commented on the stock. Macquarie assumed coverage on shares of Coca-Cola Company (The) in a report on Friday. They set a “neutral” rating and a $47.00 target price for the company. Barclays PLC set a $45.00 target price on shares of Coca-Cola Company (The) and gave the stock a “neutral” rating in a report on Monday, May 29th. Citigroup Inc. set a $53.00 target price on shares of Coca-Cola Company (The) and gave the stock a “buy” rating in a report on Thursday, August 3rd. Jefferies Group LLC set a $47.00 target price on shares of Coca-Cola Company (The) and gave the stock a “neutral” rating in a report on Thursday, July 27th. Finally, BMO Capital Markets restated a “hold” rating and set a $46.00 target price on shares of Coca-Cola Company (The) in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $45.85.

About Coca-Cola Company (The)

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.